Keeping Web Focus, Social Leverage Raising $15M for Micro VC Fund

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Howard Lindzon, the entrepreneur, hedge fund investor, and CEO of Coronado, CA-based StockTwits, is raising capital for a new and slightly more formalized version of Social Leverage, an investment partnership he runs with Tom Peterson of Phoenix, AZ.

Lindzon told me recently the two have been successful enough in recent years to attract interest from outside investors. As a result, Lindzon and Peterson are now in the process of raising $15 million for a new pooled investment fund called Social Leverage Capital Fund, according to a recent regulatory filing. Social Leverage has occasionally been described as a “micro VC” focused on Web deals, and now that description will fit better. They have raised about half of their goal so far, Lindzon said.

Howard Lindzon

“The idea is to continue to do what we’ve been doing for the past few years,” Lindzon said. Most investments from the fund will continue to fall between $100,000 and $500,000. Instead of investing just their own money, though, the longtime business partners are taking in capital from a small number of other investors. Lindzon and Peterson are serving as general partners of the fund.

Lindzon said he still sees plenty of upside in his preferred areas of investing, especially in Web video and Web publishing. He’s focused mostly on content created for the Web, especially in areas like … Next Page »